This course aims to provide students with basic concepts, definitions, facts, and trends in modern labor economics. We will discuss how labor demand and supply are determined and what mechanisms set the equilibria. The course will also address other selected topics in labor economics, including human capital, gender, race, unemployment, and mobility. Real-life examples will supplement the theoretical part of the course, allowing students to apply their newly acquired knowledge directly.
This course introduces major concepts in the
field of environmental economics. It is designed to help students understand
theories related to natural resources and make use of microeconomic and
statistical analysis. This course will also focus on valuation techniques for
environmental goods used in the real world by analysts and policy makers. There
is a growing demand in economics and public sectors for individuals with quantitative
skills who can understand and apply these techniques, analyze results, and
produce reports. By the end of this course, students will be able to analyze
economic problems related to environmental goods using rigorous valuation
This course will cover selected topics on the economics of innovation. It will help students to answer the most common questions about the economic aspects of innovation: Why do firms innovate and why do they strive to be first in a race of research and development? How can employees be motivated to produce innovative outputs? How do innovative ideas spread and foster creation of new knowledge? How is the intellectual property of innovators protected and what are the costs and scope of such protection? Where can innovative start-up firms get money to finance their projects?
The contents of this course are based on insights from macro- and microeconomics, contract theory, and corporate finance. Previous knowledge in these subjects will be beneficial but is not required.
This course covers the key concepts in public economics, a field of economics that studies the role of government in the economy. The course is designed to introduce seminal theoretical concepts and discuss the most recent empirical developments in public economics with the aim to understand: (i) why and how governments intervene in an economy, (ii) how individuals and firms react to these interventions, and (iii) what are the implications of those interventions for the overall welfare and economic development.
The aim of this course is to acquaint students
with the general ideas behind structural macroeconomic modeling and how it can be applied to better understand real-world data,
whether GDP fluctuations, evolution of lifetime income, or propensity to
consume out of a monetary transfer. We will cover 2-3 basic macro models
focusing on economic growth, the development of income and consumption
inequality over the lifetime of individuals, and the differences in behavior of
poor vs. wealthy households. For each model, we will define the decision
problems of agents in a model (households/firms/government), acquire basic
intuition on how a model works, and then describe how a model is calibrated to
real data. The discussion of each model will conclude with a debate on how it
compares with the real world and what it fails to explain.
This course aims to provide students with the basics of labor economics. Theoretical models will be linked to real-life examples, making the course beneficial for subsequent studies and professional life. The tentative list of topics includes labor demand and supply, wages (equilibrium wages, hedonic wages, etc.), human capital, discrimination in the labor market, and unemployment.
This is a course about international trade, its determinants and its consequences. We will study the ways that the patterns of international trade might be shaped by, and might in turn re-shape, a country’s available resource endowments, its technology, income distribution, economic growth, and politics.
The course starts with the concept of comparative advantage, the gains from trade, and the determinants of the patterns of trade. We will further explore the costs, benefits, and impact on income distribution of different instruments of trade protection; the effects of free trade areas (trade creation and trade diversion); and of factor mobility. Students will learn to apply the analytical toolbox of trade theory to real-world situations in order to make qualitative predictions of the effects of measures, such as tariffs or export subsidies. Students will not only learn the theory, but they will have a chance to use and analyze actual trade data. We will also include the discussion of relevant current issues, including international supply chains, the use of network theory, and the effects of trade sanctions and embargoes.
Energy is a basic necessity of daily life and a vital input to industry in any society. Energy also plays a central role in climate policy.
The course, taking mostly the viewpoint of economic markets and economic regulation, aims at giving the student knowledge about various topics related to the energy system. The main focus will be on electricity and electricity markets, as a massive paradigmatic shift has been transforming electricity systems all over the world from centrally planned engineering systems to regulated markets over the past decade. This transformation is still underway and stirring up many new, important questions, such as the correct pricing of electricity and supporting services. Special focus will be given to gas, a fuel playing a major role in electricity generation. Moreover, electricity is expected to play a special role in the decarbonization effort of energy systems.
The course is focused on giving the tools to better understand and appraise the present policies regarding energy and electricity. Especially with regard to investment in different kinds of power plants, the use of the electricity grid, and possible supporting policies such as capacity markets or renewable subsidies. Special attention is paid to the results of energy policies in energy change frontrunners, such as California, Denmark, and Germany.